Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Downgrades: Happy Meal on Hold at McDonald's (NYSE:MCD)

By

Wall Street ratings agencies set the tone for today's stock market.

PrintPRINT
MINYANVILLE ORIGINAL Herbalife (HLF), which sponsors the ultimate Spice Boy, climbed 4.35% but, just for variety's sake, seasonings king McCormick & Co (MKC) slipped 1.81% on an up day and Campbell Soup (CPB) also ended off after shuttering a spice plant.

Old-school American Greetings (AM) gained 2.04% ahead of this morning's earnings announcement and Google (GOOG) sent itself an electronic birthday card. The tech giant turned 14 much better behaved than most other adolescents, finishing at an all-time closing high of $756.50. Elsewhere, Vulcan Materials (VMC) jumped 4.74% and Goodyear Tire (GT), inventor of vulcanized rubber, rode an analyst upgrade to gain 3.92%.

Today in economics, this month's Chicago Purchasing Managers' Index is set for 9:45 a.m. Eastern, with the University of Michigan's final figure for September consumer sentiment arriving at 9:55 a.m. On the corporate front, American Greetings, Finish Line (FINL), and Walgreen (WAG) are all due to release quarterly results.

ArcelorMittal (MT): MT is moved to Neutral from Outperform at Macquarie due to valuation issues and an overall lack of catalysts.

Box Ships (TEU): Morgan Stanley takes TEU to Equal-Weight from Overweight.

Caterpillar (CAT): CAT, one of several Dow (^DJI) downgrades today, is now Neutral from Buy at Bank of America-Merrill Lynch.

European Chemical Companies: Akzo Nobel (AKZOY) and BASF (BASFY) are each now Neutral from Overweight at HSBC Securities.

McDonald's (NYSE:MCE) The Dow component is now Neutral from Buy at Janney Capital, which says industry sources indicate US burger-sector same-store-sale comps for the first two to three weeks of September are on pace to be the worst month for the year. Its price objective is $100.

Reed Elsevier (RUK): RUK is reduced to Neutral from Outperform at Credit Suisse.

United Technologies (UTX): The Dow member, maker of Otis elevators, is taken to Perform from Outperform at Oppenheimer after the company's analyst day. Concerns include economic headwinds and a lack of catalysts.

(See also: New Stock Coverage: Pfizer (NYSE:PFE) Looks Like a Riser and Stock Upgrades: Atwood Oceanics (NYSE:ATW) Keeps Its Head Above Water.)
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE